PAX Financial Group LLC Makes New Investment in InterDigital, Inc. (NASDAQ:IDCC)

PAX Financial Group LLC acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 7,028 shares of the Wireless communications provider’s stock, valued at approximately $1,361,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Flagship Harbor Advisors LLC bought a new stake in shares of InterDigital in the fourth quarter valued at approximately $338,000. Kovitz Investment Group Partners LLC acquired a new position in InterDigital in the 3rd quarter valued at $380,000. Reinhart Partners LLC. lifted its position in shares of InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock valued at $69,785,000 after acquiring an additional 164,223 shares during the period. Amundi grew its holdings in shares of InterDigital by 57.0% during the 4th quarter. Amundi now owns 20,897 shares of the Wireless communications provider’s stock worth $3,989,000 after purchasing an additional 7,586 shares in the last quarter. Finally, J2 Capital Management Inc bought a new position in shares of InterDigital in the fourth quarter worth $477,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Trading Down 4.9 %

IDCC opened at $198.07 on Friday. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.57 and a beta of 1.45. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $231.97. The company has a 50-day simple moving average of $206.89 and a 200 day simple moving average of $184.43.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, April 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio is 19.93%.

Insider Buying and Selling

In other news, insider Eeva K. Hakoranta sold 350 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total transaction of $75,078.50. Following the completion of the transaction, the insider now owns 30,537 shares of the company’s stock, valued at approximately $6,550,491.87. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Brezski sold 9,602 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total value of $2,066,446.42. Following the sale, the chief financial officer now owns 102,555 shares of the company’s stock, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,833 shares of company stock worth $2,954,830. Corporate insiders own 2.30% of the company’s stock.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.